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AWFIS SPACE SOLUTIONS IPO

IPO Details

-
-
39 Shares
₹ 14,937
₹ 364 – 383
₹ Up to 598.93 Cr

Issue timeline

  • -
  • 28-May-2024
  • 29-May-2024
  • 29-May-2024
  • 30-May-2024

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

About Company

- The largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers (Source: CBRE Report)
- Ranked 1st among the top 5 benchmarked players in the flexible workspace segment with presence in 16 cities in India, as on December 31, 2023 (Source: CBRE Report)
- As on December 31, 2023, they have over 2,295 clients and have presence in 52 micro markets in India

Strengths & Risks

Strengths (3)

Leadership in a large and growing marketplace

The total addressable market (“TAM”) for the flexible workspace operators represents a sizeable opportunity of ₹ 474-592 billion by 2026.As the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers, they believe they are well-positioned to benefit and capture this growth in the flexible workspace segment. (source: Company RHP)

Risks (2)

Has a history of net losses, negative earnings per share (“EPS”) and return on net worth (“RoNW”)
They have incurred losses for Fiscals 2021, 2022 and 2023 and nine months ended December 31, 2023.They may continue to incur losses, have negative EPS or RoNW for the foreseeable future and may not achieve or maintain profitability in the future. Any failure by us may have an adverse impact on the value of their Equity Shares.  (Source: Company RHP)

Financials

Industry Overview

- Rental Trends: Key markets such as Bengaluru, Pune, Hyderabad, and Chennai have consistently witnessed rent growth since 2014, driven by constrained supply in prime locations coupled with robust demand from technology tenants. Cities like Mumbai, Gurgaon and Noida have also witnessed growth albeit at a slower pace. Given the sustained demand momentum, rental growth has further accelerated since 2016. However, limited growth in rental witnessed during 2020-21 owing to the onset of COVID-19 pandemic.

- Tenant Sectors driving demand in commercial office in India: Technology sector and financial services contribute to major office take-up in India. Space take-up by the technology sector was 29.2% and 22.1% in 2022 and 2023, respectively. Further, the co-working sector to continue driving demand of office space offtake.

Awfis Space Solutions IPO FAQs

What is the minimum lot size and investment required for Awfis Space Solutions IPO?

The lot size is 39 shares and minimum investment required is Rs. 14,937 for Awfis Space Solutions IPO

Awfis Space Solutions IPO is mainboard IPO of issue size up to Rs.598.93 Crores

Awfis Space Solutions IPO issue dates are from 22nd – 27th May, 2024

The allotment date is 28th May and listing date is 30th May, 2024 for Awfis Space Solutions IPO

Head to IPO section on ICICI Direct website and select Awfis Space Solutions IPO. Enter and submit bid details and then click on proceed to apply once you cross-check all the bid details. It’s that simple!!

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*The financials mentioned above are sourced from DRHP/ RHP documents.